Model contract specification: Spanish Soccer 2026-27 Index Chapter A. Spanish Soccer 2026-27 Index: Season Share A.00 Scope: This chapter is a model for a listing venue's rules for the Season Share on each constituent of the Spanish Soccer 2026-27 Index. Rows set by the methodology or the products specification define the reference and cannot be changed by the venue. Rows set by the listing venue are the venue's to decide; a suggested value is given for each. [Set by: Methodology] A.01 Underlying: The settled value of one constituent of the Spanish Soccer 2026-27 Index, as published by Major League Markets at each official close. [Set by: Methodology] A.01 Contract unit: One Season Share on one constituent. [Set by: Methodology] A.01 Settlement value range: $0.00 to $100.00. [Set by: Methodology] A.01 Listing format: Set by the listing venue. Every format settles to the same published level. [Set by: Listing venue] Suggested: A scalar contract of $1.00 notional that trades from $0.01 to $0.99 and settles at the level ÷ 100; or a $1.00 yes/no contract on "level at least X" at a dated official close; or a cash-settled future on the level. A.01 Scalar settlement value: For a scalar contract of $1.00 notional: the level at the final settlement time ÷ 100. A settlement increment of $0.0001 carries every published level exactly, except the rare Pro Baseball unplayed-game half-win. Where the venue's increment is larger, the long side rounds down to the venue's increment and the short side receives the remainder, under the venue's rules. [Set by: Methodology] A.01 Settlement floor: A level does not fall during a season except through a published correction event. A venue that supports settlement floors may set the long side's floor at the most recently published level ÷ 100, rounded down to its settlement increment. [Set by: Methodology] A.01 Aggregate: At every close the constituents sum to the realized pool: table points credited to date at $0.50 a point, plus every rung credited. The realized pool is bounded by a published minimum (every match drawn) and maximum (every match decisive), $541.00 to $731.00, and is exact at season end. [Set by: Methodology] A.01 Price basis: U.S. dollars and cents per Season Share. [Set by: Listing venue] Suggested: As stated. A.01 Minimum price increment: Set by the listing venue. [Set by: Listing venue] Suggested: $0.01. A.01 Contract multiplier: Set by the listing venue. A multiplier changes the contract's notional, never its settlement value. [Set by: Listing venue] Suggested: 1: one dollar of notional per dollar of settlement value. A.01 Product code: Set by the listing venue. [Set by: Listing venue] Suggested: PN26-, for example PN26-ALA. A.02 Trading schedule: Set by the listing venue. [Set by: Listing venue] Suggested: The venue's standard hours, through the whole season, including days with no official close. A.02 Listing: Set by the listing venue. [Set by: Listing venue] Suggested: All 20 constituents listed together, so a holder can always hold the complete set. A.02 Price limits: Set by the listing venue. [Set by: Listing venue] Suggested: None inside $0.00 to $100.00. Orders outside that range are rejected. A.02 Position limits and accountability: Set by the listing venue. [Set by: Listing venue] Suggested: Position accountability at the venue's standard level for event-linked contracts. A fully collateralized position cannot lose more than the amount paid. A.02 Block trades: Set by the listing venue. [Set by: Listing venue] Suggested: The venue's standard minimum. A.02 Restricted persons: Set by the listing venue. [Set by: Listing venue] Suggested: The Source Agency, Major League Markets, Inc., its officers, directors, employees and contractors, members of its Index Committee, and any person with write access to its settlement ledger or close process may not trade the contract. The venue's own restrictions for persons able to influence a game apply in addition. A.02 Termination of trading: Set by the listing venue, no later than the final settlement time. [Set by: Listing venue] Suggested: The scheduled start of the final game of the season. A.03 Daily valuation: Set by the listing venue. The settled value published at each official close is the amount the constituent has already earned; the share's remaining value cannot be below zero. [Set by: Listing venue] Suggested: The venue's own trade-based procedure. A.03 Final settlement value: The constituent's settled value at the official close that follows the final game of the season. [Set by: Methodology] A.03 Final settlement time: The official close: 09:00 Central Time on the calendar day after the final game. [Set by: Methodology] A.03 Settlement source: Official league results, under the Settlement Procedures at majorleaguemarkets.com/governance/settlement-procedures. [Set by: Methodology] A.03 Corrections: A result the league changes after a close posts as a forward correction at the next close. A published close is never restated, and a contract already settled is not reopened. [Set by: Methodology] A.03 Unplayed games, cancelled rounds, shortened seasons: As set out in the index methodology at majorleaguemarkets.com/methodology/spanish-soccer-2026-27. [Set by: Methodology] A.03 Close not published: Set by the listing venue. [Set by: Listing venue] Suggested: If the official close is not published by the final settlement time, final settlement occurs at the Source Agency's first publication of that close. If no close is published within five business days, the settlement value is calculated from the official league standings for that date under the published methodology, which is deterministic and public. Every close, on time or late, is recorded at majorleaguemarkets.com/governance/close-record. A.04 Disclaimer: Major League Markets publishes the Spanish Soccer 2026-27 Index and licenses its use. Major League Markets does not list, sponsor, endorse, sell or promote any contract that references the index, and makes no representation about whether trading any such contract is advisable. Major League Markets has no obligation to take the needs of a listing venue or of its participants into account in determining or publishing the index. Major League Markets makes no warranty as to the accuracy, completeness or timeliness of the index or of any data in it, and has no liability for any error, omission, delay or interruption in its publication. [Set by: Listing venue] Suggested: Adopt as written, adapted by venue counsel. Chapter B. Spanish Soccer 2026-27 Index: Settled Value Futures B.00 Scope: This chapter is a model for a listing venue's rules for Settled Value Futures on each constituent of the Spanish Soccer 2026-27 Index. Settled Value Futures list where the Season Share lists. [Set by: Products specification] B.01 Underlying: The constituent's settled value at the official close that follows the expiry event. [Set by: Products specification] B.01 Settlement value range: $0.00 to $100.00. [Set by: Methodology] B.01 Expiry events: [Set by: Products specification] md10 | After matchday 10 | last scheduled game 2026-11-01 | settlement 2026-11-02 09:00 CT | Settled md19 | After matchday 19 | last scheduled game 2027-01-10 | settlement 2027-01-11 09:00 CT | Listed md29 | After matchday 29 | last scheduled game 2027-03-21 | settlement 2027-03-22 09:00 CT | Listed md38 | After matchday 38 | last scheduled game 2027-05-30 | settlement 2027-05-31 09:00 CT | Listed B.01 Listing cycle: At all times the next two expiry events are listed. When a contract expires, the next is listed. [Set by: Products specification] B.01 Contract multiplier: Set by the listing venue. A multiplier changes the contract's notional, never its settlement value. [Set by: Listing venue] Suggested: 1: one dollar of notional per dollar of settlement value. B.01 Minimum price increment: Set by the listing venue. [Set by: Listing venue] Suggested: $0.01. B.01 Product code: Set by the listing venue. [Set by: Listing venue] Suggested: PN26--, for example PN26-ALA-MD10. B.02 Trading schedule: Set by the listing venue. [Set by: Listing venue] Suggested: The venue's standard hours. B.02 Price limits: Set by the listing venue. [Set by: Listing venue] Suggested: None inside $0.00 to $100.00. B.02 Position limits and accountability: Set by the listing venue. [Set by: Listing venue] Suggested: As for the Season Share. B.02 Restricted persons: Set by the listing venue. [Set by: Listing venue] Suggested: The Source Agency, Major League Markets, Inc., its officers, directors, employees and contractors, members of its Index Committee, and any person with write access to its settlement ledger or close process may not trade the contract. The venue's own restrictions for persons able to influence a game apply in addition. B.02 Termination of trading: Set by the listing venue, no later than the settlement time. [Set by: Listing venue] Suggested: The scheduled start of the last game of the expiry event. B.03 Final settlement value: The constituent's settled value at the official close that follows the expiry event. [Set by: Products specification] B.03 Final settlement time: The official close: 09:00 Central Time on the calendar day after the last game of the expiry event. [Set by: Products specification] B.03 Postponed game: A game postponed beyond its expiry event does not delay settlement. Its value credits the period in which it is played. [Set by: Products specification] B.03 Complete set: At every expiry the settlement values of all 20 constituents sum to an amount fixed by the schedule. A holder of one contract on every constituent has no exposure to any result. [Set by: Products specification] B.03 Corrections: A result the league changes after a close posts as a forward correction at the next close. A published close is never restated, and a contract already settled is not reopened. [Set by: Methodology] B.03 Close not published: Set by the listing venue. [Set by: Listing venue] Suggested: If the official close is not published by the final settlement time, final settlement occurs at the Source Agency's first publication of that close. If no close is published within five business days, the settlement value is calculated from the official league standings for that date under the published methodology, which is deterministic and public. Every close, on time or late, is recorded at majorleaguemarkets.com/governance/close-record. B.04 Disclaimer: Major League Markets publishes the Spanish Soccer 2026-27 Index and licenses its use. Major League Markets does not list, sponsor, endorse, sell or promote any contract that references the index, and makes no representation about whether trading any such contract is advisable. Major League Markets has no obligation to take the needs of a listing venue or of its participants into account in determining or publishing the index. Major League Markets makes no warranty as to the accuracy, completeness or timeliness of the index or of any data in it, and has no liability for any error, omission, delay or interruption in its publication. [Set by: Listing venue] Suggested: Adopt as written, adapted by venue counsel. Model text for a venue's rulebook. Nothing on this page is an offer to sell or a solicitation to buy any financial instrument.